News
Compatriot Capital Expands M-F Presence with JLB Investment
Compatriot Capital Inc. has taken a significant step in its 10-year business plan through a new deal with national multi-family developer JLB Partners L.L.C.
Marriott Marquis Times Square to Get $140M Retail Makeover
Host Hotels & Resorts Inc. has just struck a deal with Vornado Realty Trust that will bring new prominence to the New York Marriott Marquis Times Square with a $140 million retail redevelopment.
Brookdale Affiliate Buys Four-Building Office Portfolio in Sunrise
An affiliate of the sixth investment fund of The Brookdale Group recently purchased an office portfolio consisting of four Class A buildings totaling 344,260 square feet in Sunrise, Fla.
Cassidy Turley: CRE Recovery a Tale of Two Markets
In a year where the U.S. economy remains “stuck in a slow growth gear,” commercial real estate recovery is uneven and there are very clear winners and losers, according to Cassidy Turley chief economist Kevin Thorpe.
Lighting Retrofit Completed at Ernst & Young NYC Headquarters; Avison Young Closes on Three Transactions
A team of contractors made up of JAS Consulting, Philips Lightolier Energy Service Group and One Lux Studio recently finished work on a massive lighting retrofit project at Ernst & Young’s 650,000-square-foot headquarters in Times Square.
JLL Secures $48M in CTL Financing
Jones Lang LaSalle’s Capital Markets team has secured $48 million in Credit Tenant Leasing financing from a foreign institutional investor for an industrial and bus maintenance complex in Newark, N.J., owned by Hartz Mountain Industries Inc.
Austin Office Vacancies Fall in Q2 Due to Healthy Absorption
By Camelia Bulea, Associate Editor
The Austin office market showed signs of healthy absorption in the second quarter of this year, as nearly 219,000 square feet of office space were leased by companies like Cirrus Logic Inc., Whole Foods Market Inc. […]
Economy Watch: Job Creation Up in July; RE Investment Still Lags; ECB Sends Mixed Messages
The U.S. economy created 163,000 jobs in July, though the Bureau of Economy Analysis predicts the GDP will only increase 1.5 percent this quarter. Also, worry over the euro-zone increased towards the end of the week, with mixed messages delivered by ECB president Mario Draghi.
Hemingway Development to Expand MidTown Tech Park
By Adrian Maties, Associate Editor Hemingway Development, a division of Streetsboro-based Geis Cos., plans to invest $8.9 million to purchase and renovate a vacant four-story building at 6555 Carnegie Ave. in MidTown Tech Park, in the Health-Tech Corridor. MidTown Tech Park is right in the heart of the Health-Tech Corridor, the area between East 55th […]
New Owner Plans to Resume Work on Kenwood Towne Place
By Adrian Maties, Associate Editor Phillips Edison Strategic Investment Fund II L.L.C. recently announced it has agreed to buy Kenwood Towne Place from a lending group led by Bank of America. The deal represents the third acquisition for Strategic Investment Fund II. Phillips Edison established the fund to focus on buying and improving large distressed […]